KeyCorp authorizes $426M share repurchase, dividend increase to 5.5c
KeyCorp announced that its board has authorized a share repurchase program of up to $426M of its common stock. In connection with the 2013 Comprehensive Capital Analysis and Review of bank holding companies, the Federal Reserve has reviewed Key's capital plan and notified the company that it does not object to the capital plan. Key's capital plan, which was approved by its board prior to submission, requested authority to increase its quarterly common stock dividend to 5.5c from 5c per share, effective in Q2. Key's board will consider the potential dividend increase at its regular May meeting.